Segment Reporting (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Mar. 31, 2015 segment	Mar. 31, 2014	Sep. 30, 2014
Segment Reporting [Abstract]
Number of reportable segments			2
Revenues:
Rental and other revenues from real estate	$ 20,186	$ 14,877	$ 39,667	$ 28,684
Other income	286	280	582	551
Total revenues	20,472	15,157	40,249	29,235
Expenses:
Real estate operating expenses	10,314	8,395	20,723	16,029
Interest expense	5,865	4,949	12,066	9,633
Advisor’s fees, related party	605	414	1,189	776
Property acquisition costs	0	292	295	1,528
General and Administrative Expense	1,736	1,596	3,393	3,170
Depreciation and amortization	5,115	3,384	9,273	6,574
Total expenses	23,635	19,030	46,939	37,710
Total revenues less total expenses	(3,163)	(3,873)	(6,690)	(8,475)
Gain on sale of real estate	2,777	0	2,777	0
Net income (loss)	(386)	(3,873)	(3,913)	(8,475)
Plus: net (income) loss attributable to non-controlling interests	(362)	919	667	1,937
Loss from continuing operations	(748)	(2,954)	(3,246)	(6,538)
Discontinued operations	0	362	0	1,213
Net loss attributable to common shareholders	(748)	(2,592)	(3,246)	(5,325)
Total Assets	760,129	574,352	760,129	574,352	734,620
Assets of discontinued operations	0		0		2,017
Multi-Family Real Estate [Member]
Revenues:
Rental and other revenues from real estate	18,795	13,718	36,956	26,325
Other income	0	0	0	0
Total revenues	18,795	13,718	36,956	26,325
Expenses:
Real estate operating expenses	9,105	7,336	18,320	13,896
Interest expense	4,686	3,759	9,395	7,244
Advisor’s fees, related party	518	326	1,003	619
Property acquisition costs		292	295	1,528
General and Administrative Expense	1,632	1,485	3,190	2,942
Depreciation and amortization	4,514	2,942	8,144	5,706
Total expenses	20,455	16,140	40,347	31,935
Total revenues less total expenses	(1,660)		(3,391)
Gain on sale of real estate	2,777		2,777
Net income (loss)	1,117	(2,422)	(614)	(5,610)
Plus: net (income) loss attributable to non-controlling interests	(1,212)	81	(1,015)	268
Loss from continuing operations		(2,341)		(5,342)
Net loss attributable to common shareholders	(95)		(1,629)
Total Assets	583,438	397,718	583,438	397,718
Other Real Estate [Member]
Revenues:
Rental and other revenues from real estate	1,391	1,159	2,711	2,359
Other income	286	280	582	551
Total revenues	1,677	1,439	3,293	2,910
Expenses:
Real estate operating expenses	1,209	1,059	2,403	2,133
Interest expense	1,179	1,190	2,671	2,389
Advisor’s fees, related party	87	88	186	157
Property acquisition costs		0	0	0
General and Administrative Expense	104	111	203	228
Depreciation and amortization	601	442	1,129	868
Total expenses	3,180	2,890	6,592	5,775
Total revenues less total expenses	(1,503)		(3,299)
Gain on sale of real estate	0		0
Net income (loss)	(1,503)	(1,451)	(3,299)	(2,865)
Plus: net (income) loss attributable to non-controlling interests	850	838	1,682	1,669
Loss from continuing operations		(613)		(1,196)
Net loss attributable to common shareholders	(653)		(1,617)
Total Assets	176,691	176,634	176,691	176,634
Loan and Investment [Member]
Expenses:
Assets of discontinued operations		$ 59,637		$ 59,637